Citic Telecom's Mobile, International Telecom Services to Remain Main Growth Drivers

Dow Jones15:28

0728 GMT - Citic Telecom's mobile services and international telecommunications services are likely to remain key growth drivers, says DBS Group Research's Tsz Wang Tam in a note. The company's 1H earnings were largely stable, buoyed by its resilient mobile and international segments, the analyst says. The company is also budgeting a higher capital expenditure of 145 million Hong Kong dollars to support its artificial-intelligence infrastructure investments, he adds. The completion of its Hutchison Telecom Macau acquisition is likely to strengthen Citic Telecom's market leadership in Macau. DBS projects 4.3% and 5.2% earnings growth for 2026 and 2027, respectively. The bank retains its buy rating and HK$3.30 target price. The stock is up 3.3% at HK$2.515.

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The company's 1H earnings were largely stable, buoyed by its resilient mobile and international segments, the analyst says. The company is also budgeting a higher capital expenditure of 145 million Hong Kong dollars to support its artificial-intelligence infrastructure investments, he adds. The completion of its Hutchison Telecom Macau acquisition is likely to strengthen <a href=\"https://laohu8.com/S/01883\">Citic Telecom</a>'s market leadership in Macau. DBS projects 4.3% and 5.2% earnings growth for 2026 and 2027, respectively. The bank retains its buy rating and HK$3.30 target price. 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